Rams Bengals Super Bowl Football

Los Angeles Rams defenders stand up Cincinnati Bengals running back Joe Mixon in Super Bowl LVI on Sunday, Feb. 13, 2022 in Inglewood, Calif.

(The Center Square) – The Tennessee Sports Wagering Advisory Council said $23 million in wagers were placed in Tennessee on Sunday's Super Bowl.

Those numbers compare with $180 million wagered in Nevada, $144 million in New Jersey, $60.5 million in Illinois, $6.4 million in Mississippi and $700,000 in Montana, according to reports.

The American Gaming Association predicted before the game that 31.4 million Americans would bet $7.61 billion on the game, an increase over last year of 35% more bettors and 78% more in bets as more states legalize sports betting.

“The Super Bowl is always going to bring significant action, but five weekends of football in January that included an extra week of the NFL’s regular season and an expanded playoff was a particular boon for sportsbooks,” said Alec Cunningham, an analyst for PlayTenn.com. “With the NCAA men’s basketball tournament just ahead, sportsbooks should continue to see high betting volume numbers before seasonally tapering off in the spring.”

Tennessee also released its January betting numbers, which showed $386.1 million in wagers, leading to $29.1 million in adjusted gross income after promotions and $5.8 million in taxes paid to Tennessee.

“Super Bowl betting volume was somewhat underwhelming, but sportsbooks made up for it by winning a high percentage of those bets,” said Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayTenn.com. “Regardless, Tennessee sportsbooks made a significant leap forward during the NFL season, adding and improving features like same-game parlays, in-game betting and prop bets. Those efforts paid dividends during the Super Bowl.”

Tennessee collects 20% of the industry’s net operator revenue in taxes. Of the sports gambling taxes, 80% of the taxes collected from sports gambling goes to education, 15% goes to the state for distribution to local governments and 5% goes toward mental health programs.

January’s totals came from eight active operators in the state, with 10 now approved. Wagr was approved to offer betting this year and, most recently, Fubo Gaming was approved at February’s Sports Wagering Council meeting.

Fubo Gaming initially applied for an operator license in May. Council Executive Director Mary Beth Thomas said the committee vetted Fubo Gaming through extensive background checks of key personnel and interviews with clients and staff, basically “everything that you can imagine,” she told the board.

Fubo Gaming President Scott Butera described Fubo as being a different experience than other sportsbooks as it integrates FuboTV’s 50,000 live sporting events each year with its gambling app for real-time betting.

“We are really a media company that incorporates wagering and other kind of interactive events into our video to create kind of a comprehensive sports entertainment experience,” Butera told the board, saying that changing the channel to a different event will adjust the gambling options to the new game automatically.

Butera said the company hopes to “use our wagering to get you to view more TV.” He also said the app makes sure viewers are of legal age to view the gambling options.

Fubo Gaming will need to submit a final Gaming Lab assessment before it goes live. PlayTenn reported Iowa and Arizona were the first to debut Fubo Gaming, and Louisiana, Mississippi, Missouri, New Jersey, Ohio, Pennsylvania and Texas all have agreements with the group.

Tennessee’s current operators include Caesar’s Sportsbook, FanDuel, BetMGM, TwinSpires, DraftKings, Barstool, Tennessee Action 24/7 and WynnBet.